TEDA-LED: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TEDA-LED
Largest movements
- Receivables within one year -€5,433
down €5,433 (-60.3%), from €9,004 to €3,571
of which Trade receivables: -€5,435
- Stocks and contracts +€2,123
up €2,123 (+8.0%), from €26,453 to €28,575
- Cash +€668
up €668 (+8.9%), from €7,528 to €8,197
mainly Receivables within one year (+€5,433) and Net result for the year (+€2,824)
- Tax, wage and social debts -€4,273
down €4,273 (-38.8%), from €11,020 to €6,746
- Reserves +€1,991
up €1,991 (+10.1%), from €19,727 to €21,718
- Trade debts -€1,879
down €1,879 (-88.2%), from €2,129 to €250
- Other debts +€1,226
up €1,226 (+18.3%), from €6,681 to €7,906
- Gross operating margin -€21,005
down €21,005 (-80.4%), from €26,141 to €5,136
- Taxes -€4,434
down €4,434 (-79.3%), from €5,590 to €1,156
- Financial income -€804
down €804 (-74.6%), from €1,078 to €274
- Financial charges +€382
up €382 (+63.4%), from €603 to €985
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,122 | €41,189 | -€2,934 | -6.6% |
| Fixed assets | 21/28 | €826 | €523 | -€303 | -36.7% |
| Tangible fixed assets | 22/27 | €826 | €523 | -€303 | -36.7% |
| Furniture and vehicles | 24 | €826 | €523 | -€303 | -36.7% |
| Current assets | 29/58 | €43,297 | €40,666 | -€2,631 | -6.1% |
| Stocks and contracts in progress | 3 | €26,453 | €28,575 | +€2,123 | +8.0% |
| Stocks | 30/36 | €26,453 | €28,575 | +€2,123 | +8.0% |
| Amounts receivable within one year | 40/41 | €9,004 | €3,571 | -€5,433 | -60.3% |
| Trade receivables | 40 | €9,004 | €3,570 | -€5,435 | -60.4% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €7,528 | €8,197 | +€668 | +8.9% |
| Deferred charges and accrued income | 490/1 | €312 | €323 | +€11 | +3.5% |
| Total equity and liabilities | 10/49 | €44,122 | €41,189 | -€2,934 | -6.6% |
| Equity | 10/15 | €24,227 | €26,218 | +€1,991 | +8.2% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €19,727 | €21,718 | +€1,991 | +10.1% |
| Distributable reserves | 133 | €19,727 | €21,718 | +€1,991 | +10.1% |
| Amounts payable | 17/49 | €19,895 | €14,970 | -€4,925 | -24.8% |
| Amounts payable within one year | 42/48 | €19,830 | €14,903 | -€4,926 | -24.8% |
| Trade debts | 44 | €2,129 | €250 | -€1,879 | -88.2% |
| Suppliers | 440/4 | €2,129 | €250 | -€1,879 | -88.2% |
| Taxes, remuneration and social security | 45 | €11,020 | €6,746 | -€4,273 | -38.8% |
| Taxes | 450/3 | €11,020 | €6,746 | -€4,273 | -38.8% |
| Other amounts payable | 47/48 | €6,681 | €7,906 | +€1,226 | +18.3% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83 | €303 | +€220 | +266.0% |
| Other operating charges | 640/8 | €358 | €142 | -€216 | -60.3% |
| Gross operating margin | 9900 | €26,141 | €5,136 | -€21,005 | -80.4% |
| Operating profit (loss) | 9901 | €25,701 | €4,692 | -€21,009 | -81.7% |
| Financial income | 75/76B | €1,078 | €274 | -€804 | -74.6% |
| Recurring financial income | 75 | €1,078 | €274 | -€804 | -74.6% |
| Financial charges | 65/66B | €603 | €985 | +€382 | +63.4% |
| Recurring financial charges | 65 | €603 | €985 | +€382 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €26,176 | €3,981 | -€22,196 | -84.8% |
| Income taxes | 67/77 | €5,590 | €1,156 | -€4,434 | -79.3% |
| Profit (loss) for the period | 9904 | €20,586 | €2,824 | -€17,762 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,586 | €2,824 | -€17,762 | -86.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.